COSTING AND FINANCIAL

MONITORING SYSTEM

Hunnar Shaala
Foundation for building technology and
innovations

By
Prasoon Raghuwanshi (24024)
Structure of presentation
 Objective
 Scope of study
 Methodology
 Context
 Findings
 Costing system
 Financial monitoring system
 Recommendations
Introduction – Hunnar Shaala
 Created as shelter cell of Abhiyan
 Not for profit organization (Sec 25)

 Objective
 Promote alternative and innovative
technologies in building construction
Objective
 To develop a costing system for
proper allocation and assignment of
resources.

 Implementing a financial monitoring

system for project status tracking.

 Integrating information from the

tracking system of project and
providing stage wise summarized
reports.
Scope of study
 Hunnar Shaala
 Project Sites
Methodology
Primary Sources
 Interviews with departments heads

 Discussion with Project team

Secondary Sources
 Invoices

 Payment vouchers
Context
Hunnar Shaala Responsibility Centers
 Design

 Project

 SRE/Block Production

 DEWAT’S

 Space Frame

 Administrative
Context
Existing Costing System
 Cost plus basis (fixed percentage)
 Administrative overheads allocation
 Project – 50%
 Design – 20%
 SRE/Block production – 15%
 DEWAT’S – 7.5%
 Space frame – 7.5%
 Context
Existing project implementation process
 Stage wise estimates (Based on SOR)

 Cash basis

 Time scheduling
Objective - Costing system
 Raw material
 Accrual basis

 Labour – Direct
 Accrual basis
 Time sheets
Objective - Costing system
 Administrative overheads
 Short term options
 Value of the project
 Turnover and manpower hours\days
basis
 Long term option
 Direct tracing of the expenses
Objective - Financial monitoring system
 Data requirements
 Budgeted data structure/project wise
 Labour, raw material and area
 Actual data structure/project wise
 Labour, raw material and area
 Data tracking
 Spreadsheets
 Budgeted expenses
 Actual expenses
Objective–Financial monitoring system
 Revision of stages of project
implementation
 Work flow of activities

 Cost variance statement stage wise

 Price variance
 Efficiency variance
Objective–Financial monitoring system
 Time Overruns
 Project Planning
 Activity wise scheduling
 Duration
 Predecessors activities
Objective–Financial monitoring system
 Gantt chart for project implementation
Objective–Financial monitoring system
 Recommendation
 Accrual basis of accounting
 Cash flow statements
 Work in progress estimation
 Balance sheet according to AS-12
Objective-Integration of information
 Database in MS Access

 Summarized reports- Stage wise

Thank You